New York City, NY, 26 March, 2020/ 24 Market Reports: IT is estimated for the dyes and pigments market to reach 42.00 billion by 2021, at a CAGR of 5.0% from 2016 to 2021. Increase in per capita consumption of dyes & pigments in emerging economies and increasing demand from end-use industry is driving the growth of the market in the region during the forecast period.
Reactive dyes are expected to lead the global dyes market during the forecast period
Reactive dyes disperse dyes, VAT dyes, direct dyes, acid dyes, and others are the segmentation for the market. Reactive dyes are expected to lead the global dyes market during the forecast period, followed by disperse dyes. Reactive dyes lead the market due to its growing use in the textile application. The market for acid dyes is expected to witness the highest CAGR from 2016 to 2021. On the other hand, the global pigments market is classified based on type, namely, titanium dioxide, inorganic pigments, and organic pigments.
Titanium dioxide is expected to lead the global pigments market during the forecast period
Titanium dioxide is expected to lead the global pigments market during the forecast period, followed by inorganic pigments. The growth is mainly due to capacity expansion and growing demand from emerging economies such as Brazil, China, and India.
South America is projected to be the second-fastest-growing market
Asia-Pacific, Europe, North America, Middle East & Africa, and South America are the segmentation based on geography. Asia Pacific region is leading the market during the forecast period. The increasing population coupled with rising disposable income in the region is driving the growth of the market in the region. South America is projected to be the second-fastest-growing market from 2016 to 2021.